Switch, Inc.
switch.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 9, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.
10-Q for Q3 FY2022, filed Nov 9, 2022
The sections below describe the company as of the FY2021 annual report.
What Did They Do?
Provides data-center space, power and network connections for technology and digital media companies, cloud and software providers, and financial and network service providers.
10-K for FY2021, filed Mar 1, 2022We believe the future of the connected world depends on the sustainable and cost-effective growth of the internet and the services it…View ↗
The vast majority of our data centers are greenfield construction, and our critical infrastructure components are purpose-built to satisfy…View ↗
We have more than 1,300 customers, including some of the world’s largest technology and digital media companies, cloud, IT and software…View ↗
We currently have more than 1,300 customers, including some of the world’s largest technology and digital media companies, cloud, IT and…View ↗
How Did They Make Money?
Colocation customers pay monthly for cabinet space and power; connectivity customers pay monthly for network connections and broadband. The company generally invoices monthly in advance, while installation work is billed once upon completion.
10-K for FY2021, filed Mar 1, 2022We currently have more than 1,300 customers, including some of the world’s largest technology and digital media companies, cloud, IT and…View ↗
Our non-recurring revenue is primarily comprised of installation services related to a customer’s initial deployment. These services are…View ↗
The Company recognizes revenue when control of these goods and services is transferred to its customers in an amount that reflects the…View ↗
The Company generally invoices customers in monthly installments payable in advance. The difference between the timing of revenue…View ↗
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10-K for FY2021, filed Mar 1, 2022
FY2021 revenue by product or service ↗
$592M
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10-K for FY2021, filed Mar 2, 2022
$592M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Colocation
Recurring
10-K for FY2021, filed Mar 1, 2022 |
80%
FY2018: 80%
|
Colocation, FY2021
$476.2M Sources
|
Recurring |
|
Connectivity
Recurring
10-K for FY2021, filed Mar 1, 2022 |
18%
FY2018: 18%
|
Connectivity, FY2021
$105.8M Sources
|
Recurring |
|
Other
|
1.7%
FY2018: 1.9%
|
Other, FY2021
$10M Sources
|
Who Were Their Customers?
Sells through a direct sales force and selected partners to enterprises, including content and financial companies, and network, cloud, and managed-services providers; some providers also refer customers.
10-K for FY2021, filed Mar 1, 2022We have more than 1,300 customers, including some of the world’s largest technology and digital media companies, cloud, IT and software…View ↗
Our sales strategy is built around “Truth in Technology.” Our team works closely with each customer to identify that customer’s needs and…View ↗
We use a direct sales force and selected partner relationships to market our offerings to global enterprises, content providers, financial…View ↗
10-K for FY2021, filed Mar 1, 2022
Although the Company operates primarily in Nevada, realization of its receivables and its future operations and cash flows could be…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2021, but spent more cash than it brought in: free cash flow was −$194.9M.
10-K for FY2021, filed Mar 2, 2022
$56MView ↗
10-K for FY2021, filed Mar 2, 2022
$5.4MView ↗
10-K for FY2021, filed Mar 2, 2022
−$194.9MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2022, filed Nov 10, 2022
−$257KView ↗
- ▼ −30% (Loss)
- vs −$369K in Q3 FY2021
10-Q for Q3 FY2022, filed Nov 9, 2022
Open tableView ↗
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Dec 6, 2022
DigitalBridge and IFM completed Switch's take-private acquisition
They acquired all Switch shares for cash, and Switch common stock was no longer listed for trading.
Sources
8-K, filed Dec 6, 2022
BOCA RATON, Fla., MELBOURNE, Australia and LAS VEGAS – December 6, 2022 – DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”) and IFM…View ↗
Grew. Revenue grew 57% in 4 years, from $378.3M in FY2017 to $592M in FY2021, about 12% a year.
Who Did They Compete With?
Competes with Equinix and Digital Realty Trust
10-K for FY2021, filed Mar 1, 2022We were the only company recognized by Greenpeace in its most recent Clicking Clean report (2017) to achieve a 100% clean energy index, and…View ↗
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